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WorksheetsProduct Life cycle
Total questions: 14
Worksheet time: 8mins
What is happening at point F of the Product Life Cycle?
Growth
Maturity
Extension Strategy
Introduction
During this stage, a business will research and devlop the product. Product testing and trials takes place.
Development
Introduction
Growth
Maturity
Decline
During this stage, the product is launched. Usually a loss is made during this phase as Sales are low (but increasing)
Development
Introduction
Growth
Maturity
Decline
During this stage, sales start to fall. Extension strategies needed to pick up sales again.
Development
Introduction
Growth
Maturity
Decline
Which stage has rapid sales?
introduction
maturity
decline
growth
Which stage has lots of competitors?
growth
maturity
introduction
decline
A possible extension strategy is to add value. This means
Increasing the price of the product
Decreasing the price of the product
Add new features to the existing product
A possible extension strategy is to invest in advertising. The drawback of this is that...
Adverts can be very expensive and do not gurantee increased sales.
It may attract new customers
The business may not have full control
Adverts are repetitive
A possible extension strategy is to invest in new packaging. The advantage of this is that...
the improved packaging can give the impression of better quality.
Packaging is not very expensive
Packaging may look attractive
Which of the following is an example of an extension strategy that involves targeting new customers?
A. Advertising
B. Price changes
C. Adding value
D. Exploration of new markets
